PKN Orlen could swap Orlen Lietuva with MOL shares belonging to Surgutneftegaz

Posted by editor on 2/24/10 • Categorized as Economy Watch, Energy • Print This Post •

The Lithuanian media announced that the Polish PKN Orlen could swap the ownership of the Lithuanian Orlen Lietuva (former Mazeikiu Nafta) with the 21.2 pct of shares of the Hungarian MOL oil refinery, currently owned by the Russian Surgutneftegaz.

Lrytas.lt and ELTA said that the Russian and Hungarian media speculates that the Polish PKN Orlen has its eyes set on ownership of the Hungarian MOL. The Russian Surgutneftegaz bought 21.2 pct of MOL shares a year ago.

Now the Russians are looking for ways of getting out of the Hungarian market, and are looking for a company which could buy the MOL shares.